Kenrik Industries Ltd. was incorporated on February 28, 2017. The company is engaged in the manufacturing, wholesaling, and supply of plain and studded gold jewellery. The company specialises in traditional Indian designs and offers a wide product range, including rings, bangles, necklaces, pendants, and wedding jewellery, often studded with diamonds, rubies, or cubic zirconia
| Bidding Dates |
|---|
| 29 Apr 2025 - 06 May 2025 |
| Subscription |
|---|
| 1.95x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,50,000 | 1 | 1 | 6000 | 3.5 M | ₹25 | 72.01 % | ₹87.5 M | RHP DOC |
Kenrik Industries IPO SUBSCRIPTION STATUS
06 May '25Kenrik Industries IPO overall subscription rate was 1.95 times the total available shares
Kenrik Industries IPO retail subscription rate was 3.6 times in the retail segment
Kenrik Industries IPO non-institutional investor subscription rate was 0.29 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
06 May 2025 (Day 5) | 3.6x | 0.29x | - |
05 May 2025 (Day 4) | 2.31x | 0.25x | - |
02 May 2025 (Day 3) | 1.41x | 0.16x | - |
30 Apr 2025 (Day 2) | 0.9x | 0.13x | - |
29 Apr 2025 (Day 1) | 0.46x | 0.02x | - |
Kenrik Industries FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 7MFY25 | 7.8 | 421.8 | -32.9 | -32.9 | 2.5% |
| FY24 | 10.8 | 707.7 | 23.9 | 23.9 | 2.1% |
| FY23 | 4.7 | 518.8 | 2.9 | 2.9 | 1.3% |
| FY22 | 3.8 | 325.9 | -50.2 | -50.3 | 1.7% |
Kenrik Industries IPO SUBSCRIPTION STATUS DETAILS
Kenrik Industries had 3.5 M shares on offer
Kenrik Industries IPO offer price was ₹25
Kenrik Industries IPO minimum Investment was ₹150000
Kenrik Industries IPO issue size was ₹ 87.5 M
Kenrik Industries had a minimum lot size of 6000 Shares per application
Kenrik Industries NUMBER OF SHARES ON OFFER
Kenrik Industries IPO IMPORTANT DATES
| Issue Open Date | 29 Apr 2025 |
| Issue close Date | 06 May 2025 |
| Allotment Date | 07 May 2025 |
| Refund Date | 08 May 2025 |
| Demat Account Credit Date | 08 May 2025 |
| Listing Date | 09 May 2025 |
| Listing on Exchange(s) | BSE |
| Kenrik Industries Allotment Status | Exchange/ Registrar |
Kenrik Industries IPO subscription opened on 29 Apr 2025, and closed on 06 May 2025
IPO allotment for Kenrik Industries was finalized on Wednesday, 07 May 2025
IPO listing for Kenrik Industries was on BSE on Friday, 09 May 2025
Kenrik Industries IPO LISTING GAINS
| Issue Price (adjusted) | 25.0 |
| Listing Open Price | 25.0 |
| Listing Close Price | 26.3 |
| Listing Gain% | 0.0% |
| Current Gain% | -71.9% |
Kenrik Industries Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kenrik Industries Ltd. | 7 | 8.8 | -2309.2 | 23 | 0.1 | 0 | 0 | 80.2 | 7.2 | 0 | -100.4 | 0 | -100.4 |
| Titan Company Ltd. | 4941 | 438655.2 | 76.2 | 1.4 | 4.7 | 32.3 | 8.4 | 88136 | 44.6 | 5073 | 52 | 64.9 | 55.1 |
| Kalyan Jewellers India Ltd. | 606.3 | 62615.7 | 43.6 | 0.6 | 1.6 | 21.4 | 6.5 | 35950.9 | 42.7 | 1350.4 | 88.9 | 13.9 | 79.1 |
| Thangamayil Jewellery Ltd. | 5275 | 16404 | 41.9 | 0.2 | 1.7 | 24.8 | 9.2 | 8513.8 | 73.2 | 351.6 | 196.2 | 125.7 | 262.5 |
| Bluestone Jewellery and Lifestyle Ltd. | 814.5 | 12441.4 | 220.9 | 1.7 | 4.6 | 0.8 | 0.3 | 2486 | 35.8 | 14.8 | 106.7 | 3.7 | 128.6 |
| Sky Gold and Diamonds Ltd. | 719.4 | 11141.6 | 40.5 | 0.4 | 1.8 | 23 | 12.5 | 6331.3 | 76.8 | 275.3 | 107.5 | 17.8 | 107.5 |
Kenrik Industries INFORMATION ON IPO ISSUE
About Kenrik Industries
Kenrik Industries Ltd. was incorporated on February 28, 2017. The company is engaged in the manufacturing, wholesaling, and supply of plain and studded gold jewellery. The company specialises in traditional Indian designs and offers a wide product range, including rings, bangles, necklaces, pendants, and wedding jewellery, often studded with diamonds, rubies, or cubic zirconia
Object of the Issue
- To meet working capital requirements
- General corporate purposes
Kenrik Industries - PROMOTERS
| Name |
|---|
| Nitinkumar Dalpatbhai Shah |
| Nihar Nitinbhai Shah |
| Manisha Nitinkumar Shah |
Kenrik Industries Lead Manager to the Issue
Turnaround Corporate Advisors Private Limited
info@tcagroup.in
Kenrik Industries Registrar to the issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Kenrik Industries Strengths
Wide range of products
The company offers a wide range of products, including traditional and contemporary jewellery designs, precious and semi-precious stones, and customised pieces, catering to a diverse customer base
Strong quality controls
The company maintains strict quality control protocols across all stages of production—from raw material selection to final inspection. It uses advanced testing equipment to ensure metal purity, gemstone authenticity, and product durability. Backed by quality certifications for its gold and silver products, this approach reinforces customer trust and helps deliver consistently high-quality jewellery
Strong distribution network
The company has built a reliable distribution network that supports timely delivery across India and select global markets. It manages intra-state deliveries through an in-house logistics team and handles inter-state deliveries via trusted third-party partners. Both retail and bulk buyers collect products directly from the company's premises
Kenrik Industries Risks
Geographic concentration risk
The company’s operations are primarily based in Gujarat, making it highly dependent on regional stability. Any adverse developments—such as economic downturns, changes in demographics, natural disasters, political unrest, or policy shifts in the region—could significantly disrupt operations, affect supply chains, and impact profitability
Inventory management risk
High inventory levels may affect the company’s business and financial health. Unsold stock due to changes in trends or customer preferences can result in inventory build-up, tying up capital and increasing financing costs. Overstocking raises working capital needs, while understocking can lead to missed sales and poor customer satisfaction, impacting overall performance
Price fluctuations
Dependence on timely and affordable gold bullion procurement affects business performance. Price volatility or limited availability of gold can impact sales volumes and margins. Although rising costs are usually passed to customers, sustained high prices or supply disruptions may reduce demand and affect financial results
IPO FAQs
The promoters of the company are Nitinkumar Dalpatbhai Shah, Nihar Nitinbhai Shah and Manisha Nitinkumar Shah.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 25.0 - 25.0.
The IPO application opens on Apr 29, 2025 and closes on May 06, 2025.
The minimum lot size for the IPO is 6000. The maximum lot size for the IPO is 6000.
For all category investors, the minimum application amount for this IPO is Rs. 150,000.0, the maximum value for this IPO is Rs 150,000.0.
This IPO will be allotted on May 07, 2025.
The refund will be credited to your account on May 08, 2025.
The allotted shares will be credited to your demat on May 08, 2025.
Kenrik Industries Ltd.’s shares listed on the stock exchanges on May 09, 2025.